The Appointments Committee of the Cabinet (ACC) has approved an extension in the tenure of Swarup Kumar Saha, the Managing Director and Chief Executive Officer of Punjab & Sind Bank, until February 28, 2027.
Mr Saha, who assumed the leadership role at the public sector bank on June 3, 2022, was initially appointed for a three-year term set to conclude in June 2025. According to a notification from the Department of Financial Services (DFS) under the Ministry of Finance, the extension will last until his retirement date or until further notice, whichever is earlier.
This development follows a strong financial performance by the bank in recent quarters. In the January–March 2024 quarter, Punjab & Sind Bank posted a net profit of ₹313 crore – more than double the ₹139 crore earned in the same quarter last year.
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The bank’s total income for the quarter stood at ₹3,836 crore, up from ₹2,894 crore in the previous year’s corresponding period. Interest income rose to ₹3,159 crore from ₹2,481 crore, while Net Interest Income (NII) saw an increase to ₹1,122 crore from ₹689 crore in Q4 FY23.
About Punjab & Sind Bank
Punjab & Sind Bank is a public sector bank in India, founded in 1908 with a social commitment to uplift the weaker sections of society. It’s headquartered in New Delhi and has branches across India, with the largest number in the state of Punjab. The bank offers a wide range of financial services, including retail banking, corporate banking, and treasury operations
